(Commonwealth Union)_ Mining company Arafura intends to construct a mine and processing plant for highly sought-after elements in the blood-red dust of central Australia. Arafura thinks the investment will be worthwhile despite the harsh circumstances. Neodymium and praseodymium (NdPr), which are used in high-power magnets, are in demand worldwide in amounts up to 5% more than what the proposed mining and processing facilities could supply. They are two of a class of substances called rare earth elements that are vital to the electronics sector. In the production of touchscreens for smartphones, wind turbines, and other contemporary technology, rare earth metals like NdPr, europium, terbium, and others that were once almost unheard of are now standard.
Australia, a powerhouse exporter of iron ore and coal with a long history of mining, thinks it is well-positioned to compete in the battle to extract minerals that are essential components for wind turbines and electric cars. Given our relative abundance of rare earth elements, this may undoubtedly change the game for Australia, according to Gavin Lockyer, managing director of Arafura Resources. “This might truly propel Australia to the forefront of the renewable energy industry. Finding a rare earths deposit is not difficult. Finding a deposit with practical amounts of the important materials is challenging,” he said. The periodic table contains more than a dozen elements collectively known as rare earths, which are not especially rare but rather very common in the Earth’s crust.
More than a dozen elements from the periodic table make up rare earths. They are really pretty common in the Earth’s crust and not particularly unusual. They have several industrial, medicinal, household, and strategic applications, according to Geoscience Australia, a government research organization, “because of their special catalytic, nuclear, electrical, magnetic, and luminous characteristics”. Batteries, catalytic converters, electrical and computing equipment, medical imaging, lasers, motors, metal alloys, and magnets and super magnets are only a few applications for them. Fluorescent lighting contains eupium, nuclear power rods use gadolinium, and solar panels use ytterbium.
